Visa Inc. (NYSE:V) Shares Acquired by Allstate Corp

Allstate Corp grew its stake in Visa Inc. (NYSE:V) by 3,388.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,669 shares of the credit-card processor’s stock after purchasing an additional 48,245 shares during the period. Visa comprises 0.5% of Allstate Corp’s investment portfolio, making the stock its 26th biggest position. Allstate Corp’s holdings in Visa were worth $15,697,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of V. Decker Retirement Planning Inc. purchased a new stake in Visa in the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa during the fourth quarter worth $27,000. POM Investment Strategies LLC boosted its holdings in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after buying an additional 32 shares in the last quarter. Modus Advisors LLC acquired a new stake in Visa during the fourth quarter valued at $32,000. Finally, Compass Planning Associates Inc purchased a new position in Visa in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock valued at $48,560,961 over the last 90 days. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on V. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday. Raymond James restated an “outperform” rating and issued a $393.00 price objective (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research note on Friday, March 21st. Piper Sandler reissued an “overweight” rating and issued a $383.00 price target (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, Barclays upped their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.84.

Visa Stock Down 2.1 %

Shares of NYSE V opened at $342.62 on Friday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a market capitalization of $636.51 billion, a P/E ratio of 34.54, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a 50 day simple moving average of $343.60 and a 200-day simple moving average of $315.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. Visa’s payout ratio is currently 23.79%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.